When your business experiences a period of significant success, you will have the opportunity to reinvest profits toward the exponential growth of your enterprise. One way to accomplish this efficiently is by acquiring another business with resources you can utilize right away.
While acquiring another business does require navigating the complexities of business law, there is no denying that it can be a powerful move in your goal to achieve greater things for your company. However, the delicate matter of integrating the company culture of multiple businesses is something that you must not take lightly.
Company culture should be a unified ideology
Statistics show that as many as 90% of mergers and acquisitions fail, possibly due to misunderstanding the acquired company’s leadership and culture. Rather than leaving two groups under the same umbrella to have two separate cultures, you should take the best of both companies into consideration when establishing a new culture that unifies everyone. The key is to reflect on the contributing factors to your own success and understand how the unique ways that your acquisition can facilitate a thriving environment going forward.
You can create greater goals after an effective integration
In any merger or acquisition, leaders on both sides are likely to have goals toward their own personal agendas. However, the integration of two companies makes it possible to unify goals in such a way that satisfies all parties involved while also creating possibilities that neither side could imagine otherwise.
Company culture is more than just a simple phrase to discuss in passing. It is a genuine environmental factor that arises in the workplace organically, and something that you can only change by finding compromise when two companies come together under an acquisition.